If any person liable for any amount under this part sells his or her business or quits the business, the person’s successors or assigns shall withhold a sufficient amount of the purchase price to cover the amount due until the former owner produces a receipt from the board showing that it has been paid or a certificate stating that no amount is due.
Cal. Rev. & Tax. Code § 11521
Payment on Termination of Business and Successor’s Liability
Added by Stats. 1987, Ch. 498, Sec. 20.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.